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MIRA
INFORM REPORT
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Report No. : |
493500 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
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Name : |
VITACO HEALTH (NZ) LIMITED |
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Registered Office : |
Cnr Kordel Place And Accent Drive, East Tamaki Auckland 2013 |
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Country : |
New Zealand |
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Date of Incorporation : |
08.12.2006 |
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Com. Reg. No.: |
1893626 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is engaged in manufacturing, distributing and selling
health food products and nutritional supplements. |
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No. of Employees : |
400 - Estimated |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
New Zealand |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
NEW ZEALAND - ECONOMIC OVERVIEW
Over the past 40 years, the government has transformed New Zealand from
an agrarian economy, dependent on concessionary British market access, to a
more industrialized, free market economy that can compete globally. This
dynamic growth has boosted real incomes, but left behind some at the bottom of
the ladder and broadened and deepened the technological capabilities of the industrial
sector.
Per capita income rose for 10 consecutive years until 2007 in purchasing
power parity terms, but fell in 2008-09. Debt-driven consumer spending drove
robust growth in the first half of the decade, fueling a large balance of
payments deficit that posed a challenge for policymakers. Inflationary
pressures caused the central bank to raise its key rate steadily from January
2004 until it was among the highest in the OECD in 2007 and 2008. The higher
rate attracted international capital inflows, which strengthened the currency
and housing market while aggravating the current account deficit. Rising house
prices, especially in Auckland, have become a political issue in recent years,
as well as a policy challenge in 2016 and 2017, as the ability to afford
housing has declined for many.
Expanding New Zealand’s network of free trade agreements remains a top
foreign policy priority. New Zealand was an early promoter of the Trans-Pacific
Partnership (TPP) and was the second country to ratify the agreement in May
2017. Following the United States’ withdrawal from the TPP in January 2017, on
10 November 2017 the remaining 11 countries agreed on the core elements of a
modified agreement, which they renamed the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP). In November 2016, New Zealand
opened negotiations to upgrade its FTA with China; China is one of New
Zealand’s most important trading partners.
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Source
: CIA |
IDENTIFICATION |
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Subject name: |
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Address: |
Cnr Kordel Place And Accent Drive East Tamaki |
Postal address: |
Botany |
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Town: |
Town: |
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Zip/postal code: |
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Country: |
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Telephone: |
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Fax: |
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Email: |
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Website: |
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EXECUTIVE SUMMARY |
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Date registered: |
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Legal form: |
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Main activities: |
Manufacturer of health food products and
nutritional supplements. |
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Employees: |
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REGISTRY DATA |
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Key Facts |
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Date registered: |
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Legal form: |
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Registration no: |
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Registry auth.: |
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Tax number: |
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Registry status: |
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LEGAL FILINGS |
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Bankruptcy
filings: |
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Court
judgements: |
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Tax liens: |
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Other: |
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MANAGEMENT & STAFF |
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Name: |
Kenneth Hong Kit Wong |
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Job title: |
Director |
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Name: |
Phillip Gary Wiltshire |
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Job title: |
Director |
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No of employees |
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BOARD OF DIRECTORS / OTHER APPOINTMENTS |
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Room 1101, Number 6, Lane 580, Wanyuan
Road Minhang District Shanghai China |
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Name: |
Kenneth Hong Kit Wong |
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Board function: |
Director |
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Date appointed: |
16-12-2016 |
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Address: |
Flat 1, 11/F, Block 1, 15 Braemar Hill
Road North Point Hong Kong Hong Kong |
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Name: |
Phillip Gary Wiltshire |
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Board function: |
Director |
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Date appointed: |
10-09-2009 |
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Address: |
9 Atherton Road, Epsom 1023 Auckland New Zealand |
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SHARE CAPITAL |
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Composition |
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Authorised: |
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Number/type: |
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Share value: |
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Issued: |
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Paid-up: |
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Shareholders/Owners |
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CORPORATE AFFILIATIONS |
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Name: |
ZEUS INVESTMENT
LIMITED |
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Affiliation type: |
Superior Holding
Company |
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Address: |
Hong Kong |
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Comment: |
Acquired 100%
shares of VITACO HOLDINGS LIMITED on 31-12-2016. |
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Name: |
ZEUS TWO HOLDING
COMPANY LIMITED |
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Affiliation type: |
Holding Company |
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Address: |
New Zealand |
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Name: |
VITACO HEALTH
GROUP LIMITED |
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Affiliation type: |
Intermediate
Holding Company |
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Address: |
New Zealand |
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Name: |
VITACO HEALTH
LIMITED |
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Affiliation type: |
Parent Company |
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Address: |
New Zealand |
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Other companies
of the SHANGHAI PHARMACEUTICALS Group should also be considered as affiliates
of the Subject. A list of major affiliated companies is attached to this report. |
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BANKING & FINANCING |
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FINANCIAL ACCOUNTS |
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Required to file: |
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Source: |
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Presentation: |
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Date of accounts: |
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Type of accounts: |
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Currency: |
Chinese Yuan (CNY) |
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Intermediate Holding Company VITACO HEALTH
GROUP LIMITED and its subsidiaries. Ultimate Holding
Company SHANGHAI PHARMACEUTICALS HOLDING CO., LTD. and its subsidiaries. |
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OPERATIONS & HISTORY |
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Full description: |
The subject is engaged in manufacturing,
distributing and selling health food products and nutritional supplements. |
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PROPERTY & ASSETS |
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The Subject principally operates from premises
located at the heading address. |
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PAYMENTS |
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Local: |
Credits 14-30
days |
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Imports: |
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Local: |
Credits 14-30
days |
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Exports: |
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As trade
references were not supplied, the Subject's payment track record history
CANNOT BE ACCURATELY DETERMINED, but payments are believed to be PROMPT. |
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INVESTIGATIVE NOTES |
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Sources: |
Material published by the Subject Other official
and local business sources |
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ATTACHMENTS |
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Attachments: |
Group
consolidated financial statements List of
affiliated companies |
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LIST OF CHARGES
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Time of Registration/ |
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Debtor Name |
Financing Statement |
Debtor |
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Org Type: |
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Incorporation No: |
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Collateral Type: |
All
Present And After Acquired Personal Property; Goods - Other |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
|
NZD |
1 |
INR 47.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.